Vestis (NYSE:VSTS) Given New $11.00 Price Target at The Goldman Sachs Group

Vestis (NYSE:VSTS - Free Report) had its price objective cut by The Goldman Sachs Group from $20.00 to $11.00 in a report published on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the company. Barclays reduced their target price on Vestis from $19.00 to $10.00 and set an underweight rating for the company in a report on Friday. Stifel Nicolaus reissued a hold rating on shares of Vestis in a report on Friday. JPMorgan Chase & Co. cut Vestis from an overweight rating to a neutral rating and reduced their target price for the company from $22.00 to $11.00 in a report on Friday. Wolfe Research began coverage on Vestis in a report on Thursday, January 11th. They set an outperform rating and a $24.00 target price for the company. Finally, Robert W. Baird reduced their target price on Vestis from $24.00 to $13.00 and set an outperform rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $18.11.

Vestis Trading Up 5.3 %

Shares of VSTS traded up $0.50 during mid-day trading on Monday, reaching $9.91. The company had a trading volume of 11,832,602 shares, compared to its average volume of 2,267,879. Vestis has a 52-week low of $8.92 and a 52-week high of $22.37. The company has a quick ratio of 2.16, a current ratio of 2.51 and a debt-to-equity ratio of 1.69. The stock has a 50 day moving average of $18.19 and a two-hundred day moving average of $18.69.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.09). The business had revenue of $705.37 million during the quarter, compared to the consensus estimate of $722.54 million. The company's quarterly revenue was up .9% on a year-over-year basis. As a group, equities research analysts predict that Vestis will post 1.03 earnings per share for the current fiscal year.

Vestis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were issued a $0.035 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 1.41%.

Insider Activity

In related news, CEO Kim Scott bought 15,000 shares of the firm's stock in a transaction on Friday, February 9th. The shares were bought at an average price of $19.14 per share, with a total value of $287,100.00. Following the completion of the transaction, the chief executive officer now directly owns 183,131 shares of the company's stock, valued at approximately $3,505,127.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Kim Scott bought 15,000 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $19.14 per share, with a total value of $287,100.00. Following the purchase, the chief executive officer now owns 183,131 shares in the company, valued at $3,505,127.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Phillip Holloman bought 20,200 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average price of $9.93 per share, with a total value of $200,586.00. Following the completion of the acquisition, the director now directly owns 44,132 shares in the company, valued at $438,230.76. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On Vestis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB purchased a new position in Vestis in the fourth quarter valued at $3,909,000. Wolverine Asset Management LLC grew its position in shares of Vestis by 48.0% during the fourth quarter. Wolverine Asset Management LLC now owns 185,000 shares of the company's stock worth $3,911,000 after buying an additional 60,000 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in shares of Vestis during the fourth quarter worth approximately $1,697,000. Yousif Capital Management LLC acquired a new stake in Vestis in the fourth quarter valued at approximately $1,400,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in Vestis in the fourth quarter worth approximately $3,160,000. Hedge funds and other institutional investors own 97.40% of the company's stock.

Vestis Company Profile

Vestis Corporation provides uniform rentals and workplace supplies in the United States and Canada. Its products include uniform options, such as shirts, pants, outerwear, gowns, scrubs, high visibility garments, particulate-free garments, and flame-resistant garments, as well as shoes and accessories; and workplace supplies, including managed restroom supply services, first-aid supplies and safety products, floor mats, towels, and linens.